Luxury home sales tumble amid scandals

Opulent dwellings: The luxury residence of one of the suspects in the money laundering case. The anti-money laundering blitz by the Singapore police force has tainted the luxury property market. — Bloomberg

SINGAPORE: Singapore’s luxury housing deals are drying up as one of the nation’s largest-ever money laundering scandals weighs on the market.

High-end bungalow sales are set for their worst year in nearly a decade, with just eight sold as of the end of September, according to data compiled by Knight Frank.